November 23, 2016 - By Ruchi Gupta
Analog Devices (NASDAQ:ADI)‘s Neutral rating is no longer valid. Stock research analysts at BofA Merrill upped ADI’s rating to a Buy.
Out of 24 analysts covering Analog Devices (NASDAQ:ADI), 13 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 54% are positive. $80 is the highest target while $50 is the lowest. The $62 average target is -16.20% below today’s ($73.99) stock price. Analog Devices has been the topic of 62 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Wednesday, October 14, the company rating was upgraded by BMO Capital Markets. Sterne Agee CRT initiated Analog Devices, Inc. (NASDAQ:ADI) on Wednesday, September 9 with “Buy” rating. The stock has “Buy” rating given by Evercore on Monday, September 14. Citigroup downgraded Analog Devices, Inc. (NASDAQ:ADI) rating on Wednesday, July 27. Citigroup has “Neutral” rating and $68 price target. On Thursday, October 20 the stock rating was initiated by CLSA with “Outperform”. M Partners maintained Analog Devices, Inc. (NASDAQ:ADI) rating on Wednesday, November 25. M Partners has “Neutral” rating and $64 price target. Nomura downgraded the shares of ADI in a report on Thursday, August 20 to “Reduce” rating. The firm has “Buy” rating by Stifel Nicolaus given on Friday, January 15. BMO Capital Markets maintained Analog Devices, Inc. (NASDAQ:ADI) on Wednesday, August 19 with “Market Perform” rating. The firm has “Buy” rating by Stifel Nicolaus given on Thursday, July 23.
About 2.25 million shares traded hands. Analog Devices, Inc. (NASDAQ:ADI) has risen 23.94% since April 21, 2016 and is uptrending. It has outperformed by 18.61% the S&P500.
Insitutional Activity: The institutional sentiment increased to 1.23 in 2016 Q2. Its up 0.23, from 1 in 2016Q1. The ratio is positive, as 44 funds sold all Analog Devices, Inc. shares owned while 171 reduced positions. 41 funds bought stakes while 174 increased positions. They now own 259.50 million shares or 3.30% less from 268.36 million shares in 2016Q1.
Redwood Investments Ltd Liability holds 900 shares or 0% of its portfolio. Rainier Investment Mngmt Limited reported 66,460 shares or 0.18% of all its holdings. Nomura Asset Management Ltd owns 40,514 shares or 0.04% of their US portfolio. Bancorp Of Ny Mellon Corporation has 0.05% invested in the company for 2.82M shares. Morgan Stanley holds 0.01% of its portfolio in Analog Devices, Inc. (NASDAQ:ADI) for 450,908 shares. Raymond James Financial Svcs Advsrs has 136,157 shares for 0.07% of their US portfolio. Tdam Usa Inc has 0.03% invested in the company for 9,028 shares. Ashfield Prns Limited Liability Company has 363,747 shares for 1.66% of their US portfolio. Pioneer Invest Mgmt owns 4.46M shares or 0.92% of their US portfolio. Eastern Savings Bank has 1.24% invested in the company for 271,821 shares. Bbva Compass Financial Bank holds 0.09% of its portfolio in Analog Devices, Inc. (NASDAQ:ADI) for 22,108 shares. Manufacturers Life Insur Company The owns 349,088 shares or 0.03% of their US portfolio. Cap Invsts last reported 3.79 million shares in the company. Private Tru Com Na last reported 0.34% of its portfolio in the stock. Euclid Advsr Ltd Llc reported 170,564 shares or 0.42% of all its holdings.
Insider Transactions: Since July 15, 2016, the stock had 0 buys, and 11 selling transactions for $10.24 million net activity. Zinsner David sold $964,935 worth of stock or 15,000 shares. $1.58M worth of Analog Devices, Inc. (NASDAQ:ADI) shares were sold by STATA RAY. Wynne Eileen also sold $160,890 worth of Analog Devices, Inc. (NASDAQ:ADI) on Thursday, August 18. 6,500 shares were sold by Real Peter, worth $416,904 on Thursday, September 29. On Tuesday, October 4 HODGSON JOHN C sold $483,143 worth of the stock or 7,500 shares. Hess Rick D sold 6,000 shares worth $360,197. The insider Cotter Martin sold $629,120.
Analog Devices, Inc. is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. The company has a market cap of $23.78 billion. The Company’s operating divisions include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia. It has a 34.98 P/E ratio. The Company’s signal processing products help in converting, conditioning and processing real-world phenomena, such as temperature, pressure, sound, light, speed and motion into electrical signals.
According to Zacks Investment Research, “Analog Devices, Inc. is one of the world leaders in the design, manufacture and marketing of high-performance analog, mixed-signal and digital signal processing integrated circuits used in signal processing applications. Applications for its products include communications, cellular telephones, computers and computer peripherals, consumer electronics, automotive electronics, factory automation, process control and military and space systems.”
Analog Devices, Inc., incorporated on January 18, 1965, is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating divisions include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia. The Company’s signal processing products help in converting, conditioning and processing real-world phenomena, such as temperature, pressure, sound, light, speed and motion into electrical signals, which are to be used in a range of electronic devices. The Firm combines data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro-electro mechanical systems (MEMS) technology and other sensors, and processing products, including DSP, micro controllers and other processors, into technology platforms. The Company’s products are embedded inside various types of electronic equipment, including industrial process control systems, medical imaging equipment, factory automation systems, patient monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles and portable electronic devices.
More important recent Analog Devices, Inc. (NASDAQ:ADI) news were published by: Schaeffersresearch.com which released: “Analyst Upgrades: Analog Devices, Inc., Veeva Systems Inc, and HP Inc” on November 23, 2016, also 247Wallst.com published article titled: “Top Analyst Upgrades and Downgrades: Analog Devices, First Solar, Hewlett …”, Nasdaq.com published: “Earnings Reaction History: Analog Devices, Inc., 44.4% Follow-Through …” on November 22, 2016. More interesting news about Analog Devices, Inc. (NASDAQ:ADI) was released by: Nasdaq.com and their article: “Analog Devices (ADI) Buys Laser Technology to Boost LIDAR” with publication date: November 21, 2016.
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By Ruchi Gupta